BCS Global Markets (BCS GM), the investment banking division of Russia’s largest broker, has seen record-breaking equity and derivatives trading performance for the first quarter of 2020.
Extreme market volatility caused by the coronavirus pandemic and ongoing oil price shocks has resulted in MOEX experiencing record trading volumes across asset classes. The Average Daily Volume (ADV) of the Russian equity market amounted to RUB 140.8 billion ($1.9 billion) in March up 283% year on year and 72% growth from February 2020. ADV for Russian stocks totaled RUB 98.68 billion ($1.45 billion) in Q1, the highest since 2012, representing 171% growth from Q4 of 2019
BCS GM, which provides brokerage, investment banking and corporate banking services to institutional, corporate clients and high net worth individuals, saw its equity turnover reach RUB 1,977 billion ($26.6 billion) record last month – the highest monthly volume the firm has ever witnessed. Throughout Q1, BCS GM also saw sustained equity trading, with volumes reaching RUB 872 billion ($13.6 billion) in February and RUB 805 billion ($13 billion) in January.
As a result of continued strong performance, BCS GM’s equity trading MOEX market share was 33%, as of March 2020 according to figures released by Moscow Exchange. The next largest firm in the market currently has a market share of 9.97%.
In addition, BCS GM - also the highest volume derivatives trader on the MOEX Exchange with 25.48% market share - achieved its record performance in March for derivatives trading reaching notional volumes of RUB 7,937 billion ($106.8 billion).
BCS Global Market’s CEO, Roman Lokhov said:
The firm’s sustained success in 2020, despite the ongoing market turbulence and global disruption, demonstrates the robustness of BCS Global Market’s infrastructure, as well as the confidence both domestic and international investors have in our expertise and solutions. It’s clear to see from our performance that we’re the most established and trusted broker in the Russian market today. Our ‘straight-through processing’ architecture, market leading expertise and unique offering will be key to ensuring we continue to service and maximise opportunities for our clients that arise during these testing times.
A message from management of BCS Global Markets
The continuously evolving nature of the global coronavirus situation has meant we at BCS Global Markets (BCS) are taking all necessary steps to keep business disruption to an absolute minimum.
Effective from today (Wednesday 18th March) employees from all divisions of the business based in our Russia, UK, USA and Cyprus offices who can work from home without creating any even minor possible risk for business continuity of the Group will be working remotely. It is very much business as usual at BCS. Our employees are equipped with secure access to our systems and will follow their normal working hours, keeping in regular contact with their colleagues and clients.
Despite ongoing disruption caused by COVID-19, we want to also assure you that following a sustained period of positive performance, our capital and liquidity position remains very strong. The business is well-placed to meet any subsequent financial challenges and will continue to go above and beyond for our clients.